Money

By Allison Morrow, CNN New York (CNN) — After more than nine hours of testimony over two days, Caroline Ellison, the most important witness in the government’s case against Sam Bankman-Fried, broke down as she described the final days of the crypto empire she helped build. Strangely, she said, even though it was “overall the

By Anna Cooban, CNN London (CNN) — Shares of LVMH fell as much as 8% Wednesday after the luxury goods conglomerate said revenue growth in the third quarter was much slower than in the first half of the year. The French company posted earnings late Tuesday that it said showed sales were returning to pre-pandemic

By Jordan Valinsky, CNN New York (CNN) — Drinking bad coffee is just one of the many downsides of flying. Alaska Airlines thinks it has a solution. Alaska has created a custom blend with Portland-based roaster Stumptown to make a coffee that’s immune from the altitude-changing effects that airborne-served coffee typically creates, including tasting bitter

By Matt Egan and Anna Bahney, CNN New York (CNN) — Sheila Bair, who had a front row seat to the subprime mortgage meltdown, is worried today’s housing market is unsustainably hot. The median home price of an existing home stood at just $278,200 in August 2019, according to the National Association of Realtors. That

By Chris Isidore and Jordan Valinsky, CNN New York (CNN) — Stellantis and Samsung plan to build a second EV battery plant in Kokomo, Indiana, a town where many current Stellantis workers see such plants as a threat to their current jobs. EV battery plants are a critical part of the plans of traditional automakers

By Chris Isidore, CNN New York (CNN) — ExxonMobil has agreed to buy Pioneer Natural Resources, a major shale oil producer in the deal that will more than double Exxon’s footprint in the Permian Basin in the Southwest United States. Though it’s the largest US oil company, ExxonMobil was relatively slow to develop shale oil

By Nathaniel Meyersohn, CNN New York (CNN Business) — The latest Powerball jackpot has jumped to $1.73 billion as the prize becomes the second largest in the lottery’s history. But in 1987 when Lotto America, the precursor to Powerball, was introduced, organizers prohibited jackpots of more than $80 million. “There were concerns about what you

By Michelle Toh, CNN Hong Kong (CNN) — Samsung warned that operating profit in the third quarter likely plunged 78% as it continues to contend with lower than usual demand for consumer devices. The South Korean tech giant released earnings estimates Wednesday, forecasting operating profit of about 2.4 trillion Korean won ($1.8 billion) for the

By Aya Elamroussi and Nouran Salahieh, CNN (CNN) — A single ticket sold in California scored the second-largest jackpot in Powerball and US lottery history during Wednesday night’s drawing, according to Powerball. The winning numbers are 22, 24, 40, 52, 64 and the Powerball 10. The ticket to snag the estimated jackpot of more than

By Rob McLean, CNN New York (CNN) — Walgreens Boots Alliance said Tuesday that it has named Tim Wentworth its new CEO. Wentworth will begin the position on October 23, according to a news release, and will also join the WBA board of directors. “I am honored and excited for the incredible opportunity to lead

CNN By Oliver Darcy, CNN (CNN) — Some journalists are making the ultimate sacrifice while covering the war between Israel and Hamas. At least seven journalists have been killed in the Gaza Strip since Hamas launched its brazen assault on Saturday, according to press freedom groups and media reports. That number could rise even further

By Oliver Darcy, CNN (CNN) — Some journalists are making the ultimate sacrifice while covering the war between Israel and Hamas. At least seven journalists have been killed in the Gaza Strip since Hamas launched its brazen assault on Saturday, according to press freedom groups and media reports. That number could rise even further in

CNN By Brian Fung and Donie O’Sullivan, CNN (CNN) — European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation and illegal content about the war between Hamas and Israel, in potential violation of the European Union’s signature content moderation law. In a letter addressed to

CNN By Brian Fung and Donie O’Sullivan, CNN (CNN) — European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation and illegal content about the war between Hamas and Israel, in potential violation of the European Union’s signature content moderation law. In a letter addressed to

By Brian Fung and Donie O’Sullivan, CNN (CNN) — European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation and illegal content about the war between Hamas and Israel, in potential violation of the European Union’s signature content moderation law. In a letter addressed to X

By Jennifer Korn, CNN New York (CNN) — Google is looking to make passwords obsolete by prompting users to create passkeys to unlock accounts and devices with a fingerprint, face scan or pin number. Google said Tuesday that passkeys don’t require users to memorize passwords, are quicker to use and offer more security. The company

By Danielle Wiener-Bronner, CNN New York (CNN) — Burger King has been working to revitalize its brand over the past few years, redesigning everything from its logo to its packaging. The next step: remodeling restaurants. Customers entering Burger King locations will “start to see something different in 2024,” said Tom Curtis, president of Burger King

By Anna Cooban and Matt Egan, CNN London/New York (CNN) — Chevron said Monday it had shut down a natural gas field off the coast of Israel at the behest of local officials, two days after Hamas militants launched their deadly assault on the country. The Tamar field, located 15 miles off Israel’s southern coast,

By Peter Valdes-Dapena, CNN New York (CNN) — Interest rates are high and could get higher. That means auto loans are expensive. In fact, auto loan interest rates are the highest they’ve been since 2007, when the world was heading into a massive financial crisis. Rates average 7.4%, according to Edmunds, up 3 percentage points

By Rachel Ramirez, CNN (CNN) — Hops in major beer-producing European countries like Germany, Czech Republic and Slovenia are ripening earlier and producing less since 1994, scientists found. And, perhaps most alarmingly for the IPA lovers of the world, they are starting to lose their critical bitter component. It’s going to get worse, researchers say.